Since the major correction earlier this year, the crypto markets have been on a rollercoaster ride, to put it lightly. Until now, these markets are still largely sentiment and hype-driven, and continue to exhibit massive volatility in many ways. Those of you who know me will know that I run Nona, a Blockchain-focused software development studio based in Cape town, South Africa, with an international client base. We’re part of the global blockchain business community and in this environment, we still struggle to find more than just a few well-thought-out, real-world offerings in the space but that reality is slowly exhibiting signs of beginning to mature.
The recent bearish downturn, has only fuelled the current dread sentiment that we are not yet at the bottom. But there also seems to be a growing change in the way that people are perceiving and addressing these events. And this is where things get interesting.
For the first time, I’ve noticed something fundamentally different in the behaviour of business owners and entrepreneurs interacting in the space.
Are we finally breaking through the hype?
Over the last few weeks, we’ve observed a noticeable uptick in our early stage consultation on the feasibility of running blockchain-related projects.
These projects are less focused on crypto and more geared towards leveraging blockchain technology for the right reasons. Our feasibility audits and consultations aim to get to the core of a technological concept, based on educated decisions, but they often lead to explaining some of the key fundamentals before diving into the key concepts, problems and logistics.
So, what’s interesting about this recent uptick for us is that it is happening despite the current bearish state of the market and near constant FUD (Fear, Uncertainty and Doubt) being spread.
What does it all mean?
It would appear to us that the state of the crypto markets, and the sentiment thereof, seem to have very little, if anything, to do with the investment into legitimate and credible blockchain projects. Things seem to be getting worse and better at the same time, and this is great!
Some things that I believe are contributing factors to this are:
- The level of education in blockchain technology is growing rapidly. Potential clients and partners now understand key principles before meeting with us and the conversation is starting at a much more sophisticated level.
- The timing is good. Because of the above and the now clear distinguishing between speculative cryptocurrencies and building blockchain-based projects for the right reasons, innovators and investors see the value in getting ahead of the crowd.
Nona is a software development studio with deep capability and focus on Blockchain. If you are looking for a technology partner to help you with the various technical and development areas of your blockchain project please do get in touch.